A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2017; you can also visit the original URL.
The file type is
This paper analyses the exchange rate response of credit-constrained exporters and highlights location-driven balance sheet effects residing both on the real side and on the financial side of the economy. A model focusing the location of production relative to both credit markets and to the first and the second hand market for capital inputs introduces a number of balance-sheet driven exchange rate effects. When it comes to location, we consider four regimes, referred to as a developed, adoi:10.4236/tel.2016.65096 fatcat:4iwbqowe4reubmuwhzbjl7tcui